ACAYX vs. ALAFX
Compare and contrast key facts about Alger Capital Appreciation Institutional Fund Class Y (ACAYX) and Alger Focus Equity A Fund (ALAFX).
ACAYX is managed by Alger. It was launched on Feb 28, 2017. ALAFX is an actively managed fund by Alger. It was launched on Nov 8, 1993.
Performance
ACAYX vs. ALAFX - Performance Comparison
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ACAYX vs. ALAFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACAYX Alger Capital Appreciation Institutional Fund Class Y | -14.30% | 32.26% | 70.32% | 43.39% | -36.58% | 18.80% | 42.01% | 33.67% | -0.38% | 18.92% |
ALAFX Alger Focus Equity A Fund | -13.66% | 39.65% | 51.72% | 44.15% | -35.95% | 20.00% | 45.73% | 33.84% | 1.33% | 16.37% |
Returns By Period
The year-to-date returns for both investments are quite close, with ACAYX having a -14.30% return and ALAFX slightly higher at -13.66%.
ACAYX
- 1D
- -1.58%
- 1M
- -9.45%
- YTD
- -14.30%
- 6M
- -14.87%
- 1Y
- 28.77%
- 3Y*
- 34.56%
- 5Y*
- 15.57%
- 10Y*
- —
ALAFX
- 1D
- -1.70%
- 1M
- -9.07%
- YTD
- -13.66%
- 6M
- -14.20%
- 1Y
- 35.99%
- 3Y*
- 31.99%
- 5Y*
- 14.69%
- 10Y*
- 18.24%
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ACAYX vs. ALAFX - Expense Ratio Comparison
ACAYX has a 0.83% expense ratio, which is lower than ALAFX's 0.95% expense ratio.
Return for Risk
ACAYX vs. ALAFX — Risk / Return Rank
ACAYX
ALAFX
ACAYX vs. ALAFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Capital Appreciation Institutional Fund Class Y (ACAYX) and Alger Focus Equity A Fund (ALAFX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ACAYX | ALAFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 1.31 | -0.28 |
Sortino ratioReturn per unit of downside risk | 1.57 | 1.89 | -0.32 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.25 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.35 | 1.84 | -0.49 |
Martin ratioReturn relative to average drawdown | 4.54 | 6.30 | -1.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ACAYX | ALAFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 1.31 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.57 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.79 | -0.07 |
Correlation
The correlation between ACAYX and ALAFX is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ACAYX vs. ALAFX - Dividend Comparison
ACAYX's dividend yield for the trailing twelve months is around 7.75%, less than ALAFX's 9.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACAYX Alger Capital Appreciation Institutional Fund Class Y | 7.75% | 6.64% | 24.81% | 7.76% | 3.77% | 18.85% | 16.28% | 10.19% | 12.28% | 6.73% |
ALAFX Alger Focus Equity A Fund | 9.16% | 7.91% | 0.00% | 0.10% | 0.06% | 14.09% | 6.28% | 1.98% | 5.41% | 0.00% |
Drawdowns
ACAYX vs. ALAFX - Drawdown Comparison
The maximum ACAYX drawdown since its inception was -46.37%, which is greater than ALAFX's maximum drawdown of -43.65%. Use the drawdown chart below to compare losses from any high point for ACAYX and ALAFX.
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Drawdown Indicators
| ACAYX | ALAFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.37% | -43.65% | -2.72% |
Max Drawdown (1Y)Largest decline over 1 year | -18.50% | -17.58% | -0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -46.37% | -43.65% | -2.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.65% | — |
Current DrawdownCurrent decline from peak | -18.50% | -17.58% | -0.92% |
Average DrawdownAverage peak-to-trough decline | -10.88% | -7.75% | -3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.49% | 5.14% | +0.35% |
Volatility
ACAYX vs. ALAFX - Volatility Comparison
Alger Capital Appreciation Institutional Fund Class Y (ACAYX) and Alger Focus Equity A Fund (ALAFX) have volatilities of 7.53% and 7.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACAYX | ALAFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.53% | 7.56% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 16.50% | 16.38% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.58% | 27.14% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.14% | 26.07% | +2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.88% | 23.85% | +2.03% |